4 Essential Tools for Commercial Property Management
Commercial property management does not count maintenance alone; it is the art of generating business too. It is a whole new concept, one that is different from years ago. A few aspects have to be kept in mind that a building must offer to meet the requirements of the renters. Management of property is not a piece of cake. A timely check on roofing, landscaping and parking areas is very essential. Also, having a management plan as to which strategy should be followed, what you look forward to achieve, what is the holding period that you are considering and what is the optimal value you are looking for.
Certain software to keep track of leases and rents:
It is property management software that helps in storing all the details in regards with tenants and rents. It creates a source for collection of payments, tracking of expenses, preparation of work orders and also credit checking. Further, it lets you have a track on issues and vacancies. This platform offers a few options to choose from, wherein the basic plan is not chargeable. The basic plan provides the same modules as the paid one.
Cozy is software, simple to use and organized in its form. Vacancies are dealt with ease. This platform makes marketing requirements to go with the flow of market trends i.e. to say an overview of forthcoming rentals.
The headache of the landlord receiving the rent from the renters is taken away as each one of them receives an email.
Rentec Direct, just like other above mentioned software provides a platform for the property manager and renters to meet. It performs the function of general ledger accounting, financial reporting, utility billing integration, etc. The software is mobile user friendly and supports systems such as Windows and Mac.
Why a third party background check is necessary?
A background check company helps in assessing the risk for reputation management. A landlord, who is concerned, will be in search of a tenant who is going to add prestige to his unit and that is by bringing in a tenant doing the right business for the surrounding tenants and community.
A third party background check for the applications submitted for lease is essential. Tenants tend to provide false job history and false addresses thinking that the application will get through just by a single glance. Furthermore, protecting your property and other tenants from wrong doers such as drug dealers and sexual predators is necessary.
Remember, the results that will be yielded will depend on efforts you put forth in designing your property management plan so use the right tools.